Representative Robert Bresnahan, Jr. (R-Pennsylvania) recently sold shares of Broadcom Inc. NASDAQ: AVGO. In a filing disclosed on April 09th, the Representative disclosed that they had sold between $1,001 and $15,000 in Broadcom stock on March 11th. The trade occurred in the Representative's "JP MORGAN BROKERAGE ACCOUNT #2" account.
Representative Robert Bresnahan, Jr. also recently made the following trade(s):
- Purchased $1,001 - $15,000 in shares of Cadence Design Systems NASDAQ: CDNS on 3/17/2025.
- Purchased $1,001 - $15,000 in shares of ServiceNow NYSE: NOW on 3/13/2025.
- Purchased $1,001 - $15,000 in shares of Intel NASDAQ: INTC on 3/13/2025.
- Purchased $1,001 - $15,000 in shares of SEA NYSE: SE on 3/11/2025.
- Sold $1,001 - $15,000 in shares of Reddit NYSE: RDDT on 3/11/2025.
- Sold $1,001 - $15,000 in shares of Robinhood Markets NASDAQ: HOOD on 3/11/2025.
- Sold $1,001 - $15,000 in shares of Oracle NYSE: ORCL on 3/11/2025.
- Purchased $1,001 - $15,000 in shares of International Business Machines NYSE: IBM on 3/11/2025.
- Sold $1,001 - $15,000 in shares of Tesla NASDAQ: TSLA on 3/11/2025.
- Sold $1,001 - $15,000 in shares of NVIDIA NASDAQ: NVDA on 3/11/2025.
Broadcom Stock Performance
Shares of AVGO traded down $0.52 during mid-day trading on Monday, reaching $181.42. The company's stock had a trading volume of 4,075,408 shares, compared to its average volume of 31,262,694. Broadcom Inc. has a 1-year low of $119.76 and a 1-year high of $251.88. The business has a 50-day simple moving average of $195.52 and a two-hundred day simple moving average of $196.11. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98. The stock has a market cap of $853.01 billion, a P/E ratio of 146.56, a PEG ratio of 2.29 and a beta of 1.05.
Broadcom declared that its board has authorized a stock buyback program on Monday, April 7th that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor manufacturer to reacquire up to 1.4% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's leadership believes its shares are undervalued.
Broadcom Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Thursday, March 20th were issued a dividend of $0.59 per share. The ex-dividend date was Thursday, March 20th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.30%. Broadcom's payout ratio is 113.46%.
Institutional Trading of Broadcom
Large investors have recently made changes to their positions in the company. Canton Hathaway LLC bought a new stake in Broadcom during the fourth quarter worth about $26,000. Rialto Wealth Management LLC bought a new stake in shares of Broadcom in the fourth quarter valued at approximately $26,000. Sunbeam Capital Management LLC acquired a new stake in Broadcom during the fourth quarter worth about $28,000. Vermillion Wealth Management Inc. acquired a new position in shares of Broadcom during the 4th quarter worth $30,000. Finally, JDM Financial Group LLC increased its position in Broadcom by 1,323.1% during the 3rd quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer's stock worth $32,000 after purchasing an additional 172 shares in the last quarter. Institutional investors own 76.43% of the company's stock.
Analysts Set New Price Targets
A number of research analysts recently issued reports on the stock. Cantor Fitzgerald reissued an "overweight" rating and issued a $300.00 price objective on shares of Broadcom in a research note on Friday, March 7th. Mizuho decreased their price target on Broadcom from $260.00 to $250.00 and set an "outperform" rating for the company in a report on Friday, March 7th. Morgan Stanley upped their price target on Broadcom from $246.00 to $260.00 and gave the stock an "overweight" rating in a report on Friday, March 7th. Benchmark reaffirmed a "buy" rating and set a $255.00 price target on shares of Broadcom in a research report on Friday, March 7th. Finally, Citigroup lowered their price objective on Broadcom from $220.00 to $210.00 and set a "buy" rating on the stock in a research note on Friday. Three equities research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $231.68.
Read Our Latest Analysis on AVGO
Insider Activity at Broadcom
In other Broadcom news, Director Henry Samueli sold 663,976 shares of the stock in a transaction dated Wednesday, March 26th. The stock was sold at an average price of $181.60, for a total transaction of $120,578,041.60. Following the completion of the sale, the director now directly owns 38,798,721 shares in the company, valued at approximately $7,045,847,733.60. This trade represents a 1.68 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Mark David Brazeal sold 30,000 shares of the stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $194.65, for a total transaction of $5,839,500.00. Following the transaction, the insider now directly owns 490,956 shares in the company, valued at $95,564,585.40. This trade represents a 5.76 % decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by company insiders.
About Representative Bresnahan
Rob Bresnahan Jr. (Republican Party) is a member of the U.S. House, representing Pennsylvania's 8th Congressional District. He assumed office on January 3, 2025. His current term ends on January 3, 2027.
Bresnahan (Republican Party) is running for re-election to the U.S. House to represent Pennsylvania's 8th Congressional District. He declared candidacy for the 2026 election.
Rob Bresnahan Jr. was born in Kingston, Pennsylvania. He earned a B.S. in business administration, management and operations from the University of Scranton in 2012. His career experience includes working as the chief financial officer and CEO of a family business, an electrical contracting company.
About Broadcom
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Broadcom Inc designs, develops, and supplies various semiconductor devices with a focus on complex digital and mixed signal complementary metal oxide semiconductor based devices and analog III-V based products worldwide. The company operates in two segments, Semiconductor Solutions and Infrastructure Software.
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